Jay-Z Steps Down
It’s been swirling around the rumor mill for a while now and it has finally been proven to be true. Rapper/entrepreneur Jay-Z is stepping down as president/CEO of Def Jam Records after 3 years with the label.
Jay-Z announced it on Christmas eve saying “It’s really about trying to invest in the future, trying to invest in maybe coming up with a new model. Because going in hard making records with artists and throwing those records into a system that’s flawed is not exciting for me. It’s not the music; people ingest music the same way. It’s just that the model of selling CDs has changed. So doing things the typical way is not in the best interests of anyone and not exciting for me. My whole thing is, how do we invest in the future? If everyone is committed to doing that, then I’m sure there’s a deal to be made.”
This entry was posted on Friday, December 28th, 2007 at 2:26 pm .You can follow any responses to this entry through the RSS 2.0 feed.